Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. The Samuelson-Mishi condition, authored by Paul Samuelson, in the theory of public goods in economics, is a condition for the efficient provision of public goods. When satisfied, the Samuelson condition implies that further substituting private goods provision for public goods prov ...Full description
Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. The Samuelson-Mishi condition, authored by Paul Samuelson, in the theory of public goods in economics, is a condition for the efficient provision of public goods. When satisfied, the Samuelson condition implies that further substituting private goods provision for public goods provision (or vice versa) would result in a decrease of social utility. Paul Anthony Samuelson (May 15, 1915 - December 13, 2009) was an American economist, and the first American to win the Nobel Prize in Economics. The Swedish Royal Academies stated, when awarding the prize, that he "has done more than any other contemporary economist to raise the level of scientific analysis in economic theory." Economic historian Randall E. Parker calls him the "Father of Modern Economics", and The New York Times considered him to be the "foremost academic economist of the 20th century."